Phyron, a Stockholm, Sweden-based video content creation platform provider, received a revenue-based seven-figure investment from Round2 Capital. The exact amount of the deal was not disclosed.
The new investment will accelerate the development of the company’s AI and automation technology, grow the team, and attract new customers.
Phyron provides AI-based software that enables the automated generation of product videos. Its AI-based video engine can create an unlimited number of studio-quality videos from existing content in real time.
The software renders, hosts, and streams all video files with no human input on all available channels – including websites, marketplaces, social media, and paid ads.
Since its foundation, the company has rapidly expanded beyond the Nordic countries and into the rest of Europe and North America. Now, more than 2,500 car dealers use Phyron across 25 countries. Since January 2021, Phyron’s videos have been viewed more than 250 million times.
Company: Phyron AB
Raised: Undisclosed
Round: Revenue-based Funding
Funding Month: July 2023
Lead Investors: Round2 Capital
Additional Investors:
Company Website: https://www.phyron.com/
Software Category: Video Content Creation Platform
About the Company: Founded in 2019 by Johan Sundstrand and Mattias Kellquist, Phyron is a Swedish SaaS company delivering an AI-video solution for the automated large-scale generation of AI videos through a cutting-edge technology platform. Phyron’s solution automatically identifies the unique selling points of each car, new or used and transforms images, brand videos, text, data, web links and so forth into an attractive video that can be used to promote sales on website/VDP:s and social media as well as in your showroom and other sales presentations.
Source: https://www.finsmes.com/2023/07/phyron-receives-7-figure-investment-from-round2-capital.html